has the inadequate excuse that other big banks were also exposed to the collapse of the fund run by Bill Hwang. That factor, though, does not explain why Goldman Sachs and Morgan Stanley, also acting as prime brokers, were able to flee the scene and liquidate their exposures while the Swiss bank, plus Nomura, were slow out of the blocks. A hefty $4.7bn hit to profits suggests a failure of the entire system of risk controls.
Why is it, answer your own question
There should at least be a levy to help the addicted.
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Will that stop problem gambling, I seriously doubt it... as long as the government gets money from it, they care little about any loss of life or problems with addiction... it's a farce.